Vornado Realty Trust ($VNO) Stock Forecast: Down 5.0% Today

What is Vornado Realty Trust?

Vornado Realty Trust (VNO) is a real estate investment trust specialized in office and retail properties in key metropolitan areas like New York City and Washington, D.C.

Why is Vornado Realty Trust going down?

VNO stock is down 5.0% on Aug 7, 2024 17:11

• Vornado Realty Trust (VNO) surpassed expectations in the second quarter, exceeding estimates for funds from operations (FFO) and revenue. However, a prevailing pessimistic market sentiment caused a decline in the stock price.
• Even though Vornado surpassed expectations in earnings per share (EPS) and revenue, its net income for the quarter decreased compared to the previous year, which may have sparked investor concerns.
• The overall decrease in total same-store net operating income (NOI) and the year-over-year revenue drop likely influenced the downward trend of VNO stock.
• Investors seem to be concentrating on the unfavorable aspects of the earnings report, such as the reduction in total same-store NOI and operating income, prompting a sell-off of Vornado Realty Trust shares despite the positive earnings outcomes.

VNO Price Chart

VNO Technical Analysis

VNO News

Vornado Realty Trust (VNO) Q2 2024 Earnings Call Transcript

Vornado Realty Trust (NYSE:NYSE:VNO) Q2 2024 Earnings Call August 6, 2024 10:00 AM ETCompany ParticipantsSteve Borenstein - Executive Vice President and…

https://seekingalpha.com/article/4711135-vornado-realty-trust-vno-q2-2024-earnings-call-transcript?feed_item_type=transcript

Vornado''s Q2 FFO and Revenues Surpass Estimates

Vornado Realty Trust ''s (NYSE: VNO ) second-quarter 2024 funds from operations (FFO) plus assumed conversions as adjusted per share of 57 cents surpassed the Zacks Consensus Estimate of 55 cents. However, the figure declined 20.8% year over year. Results display better-than-anticipated top-line growth. Vornado experienced decent leasing activity, higher initial rent and lower leasing commissions in the quarter. However, the total same-store net operating income (NOI) declined year over year. Total revenues came in at $450.3 million in the reported quarter, which beat the Zacks Consensus Estimate of $434.6 million. However, on a year-over-year basis, revenues declined nearly 4.7%. Quarter in Detail In the reported quarter, total same-store NOI (at share) came in at $263.8 million compared with the prior-year quarter''s $289.8 million. The metric for the New York, THE MART and 555 California Street portfolios decreased 4.4%, 4.6% and 46.4%, respectively, from the prior-year period. Operating expenses increased 3% to $229.4 million year over year.

https://www.benzinga.com/news/earnings/24/08/40195839/vornados-q2-ffo-and-revenues-surpass-estimates

VNO Stock Earnings: Vornado Realty Beats EPS, Beats Revenue for Q2 2024

Vornado Realty (NYSE: VNO ) just reported results for the second quarter of 2024. Vornado Realty reported earnings per share of 57 cents. This was above the analyst estimate for EPS of 55 cents. The company reported revenue of $450.27 million. This was 3.61% better than the analyst estimate for revenue of $434.56 million. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com. More From InvestorPlace Legendary Investor Predicts: “Forget AI… THIS Technology Is the Future” The post VNO Stock Earnings: Vornado Realty Beats EPS, Beats Revenue for Q2 2024 appeared first on InvestorPlace .

https://investorplace.com/earning-results/2024/08/vno-stock-earnings-vornado-realty-for-q2-of-2024/

Vornado Realty Trust Q2 Profit Down

WASHINGTON (dpa-AFX) - Vornado Realty Trust (NYSE: VNO) Monday reported second-quarter net income of $35.26 million or $0.18 per share, compared to $46.38 million or $0.24 per share for the prior …

https://www.finanznachrichten.de/nachrichten-2024-08/62914035-vornado-realty-trust-q2-profit-down-020.htm

Vornado Announces Second Quarter 2024 Financial Results

NEW YORK, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today:

https://www.globenewswire.com/news-release/2024/08/05/2924654/0/en/Vornado-Announces-Second-Quarter-2024-Financial-Results.html

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Vornado Realty Trust Price History

09.03.2024 - VNO Stock was up 5.0%

• VNO had a strong bullish movement today.
• Short sellers are betting against real estate stocks, anticipating a difficult time ahead.
• Concerns include higher interest rates impacting property values and economic pressures on specific real estate segments.
• Despite the negative sentiment in the real estate sector, VNO defied expectations and experienced a bullish market movement, possibly due to strong financial performance or positive news specific to the company.

16.04.2024 - VNO Stock was down 5.9%

• In the latest quarter, Vornado Realty Trust had a mixed earnings report, highlighting robust leasing activity across its portfolio. This positive development should have lifted the stock price. However, concerns expressed in recent discussions may have contributed to a bearish trend among investors.
• Despite achieving a strong technical benchmark with an 80-plus RS rating, the market response may have been dampened by other factors, leading to the observed bearish movement.
• The blend of varied earnings performance and uncertain sentiment from analysts possibly overshadowed the favorable technical signal. Consequently, investors may have divested VNO shares, resulting in the decline of the stock price.

15.03.2024 - VNO Stock was down 5.2%

• The bearish movement in VNO stock today could be attributed to investors reacting negatively to the overall market sentiment towards certain individual stocks.
• Despite Vornado Realty Trust unveiling optimistic annual projections in its 2023 Annual Report, the broader narrative of market resilience does not seem to have extended to VNO stock.
• The release of the 2023 Sustainability Report may not have been enough to offset concerns about the company's performance amidst a backdrop of potential overvaluation and investor prioritization of financial fundamentals.
• The market's focus on purging toxic stocks and the lingering pessimistic sentiment towards certain companies could have contributed to the bearish movement in VNO stock today.

10.03.2024 - VNO Stock was down 5.3%

• VNO stock saw a downtrend in its value today.
• Despite revealing positive annual forecasts, Vornado Realty Trust faced challenges within the real estate industry.
• Investors are showing more interest in short selling real estate stocks due to concerns about rising interest rates affecting property values and specific economic pressures in certain market segments.
• These factors likely influenced the decline in VNO stock as investors responded to the prevailing pessimism towards the real estate sector.

12.05.2024 - VNO Stock was up 8.9%

• Vornado's retail joint venture completing a $400 million refinancing of a Manhattan property indicates financial stability and confidence in the market, potentially boosting investor sentiment.
• The completion of the refinancing with a fixed rate of 7.47% and maturity in 2029 suggests favorable terms, which could attract more investors to VNO.
• The high yield of 8.5% for the Series O Preferreds of Vornado Realty Trust might have also contributed to the bullish movement as investors seek higher returns in the current low-interest-rate environment.
• Overall, the positive news of refinancing and attractive yields on preferred shares likely drove the strong bullish movement in VNO's stock today.

15.04.2024 - VNO Stock was up 5.6%

• Vornado Realty Trust's bullish movement could be attributed to its recent earnings call focusing on leasing and liquidity, which likely reassured investors about the company's financial health and stability.
• The technical benchmark achievement of VNO with its Relative Strength Rating jumping into the 80-plus percentile may have attracted more investors seeking strong performing stocks.
• The insider buying activity at Urban Edge Props by Director Catherine Rice might have indirectly positively impacted Vornado Realty Trust's stock, indicating confidence in the real estate sector as a whole.
• Overall, the positive market sentiment towards Vornado Realty Trust, coupled with strategic focus on leasing and liquidity, contributed to the bullish movement of VNO today.

07.04.2024 - VNO Stock was down 6.0%

• Extension of one of Vornado's credit facilities sparked concerns among investors regarding the company's financial health and liquidity, leading to a downward trend in the stock.
• A net loss in the first quarter of 2024 may have added to investor unease, contributing to the decline in VNO shares.
• Despite the declaration of quarterly dividends on preferred shares, it may not have been enough to counterbalance the negative effects of the financial performance and credit facility extension, resulting in a bearish market movement for VNO.

29.04.2024 - VNO Stock was down 5.1%

• The bearish movement in VNO today could be attributed to the negative sentiment surrounding real estate stocks.
• The mention of "fierce interest rate speculation and inconsistent consumer sentiment" may have impacted VNO's stock negatively, as rising interest rates can make financing more expensive for real estate companies.
• Investors might be selling off VNO shares due to concerns about the cyclical nature of the real estate sector and the potential impact of economic uncertainty.
• The recommendation to sell real estate stocks in May could have influenced traders to offload their VNO holdings, contributing to the bearish movement.

12.06.2024 - VNO Stock was up 5.3%

• Vornado Realty Trust (VNO) saw a significant uptrend following an upgrade to a "sell" rating.
• While a "sell" rating might appear paradoxical, it could indicate that the stock was previously overpriced and is now considered a more appealing investment at a lower value.
• This upgrade likely stimulated optimism among investors, resulting in the uptick in VNO's stock price.
• It is recommended for investors to monitor how this upgrade impacts VNO's performance in the upcoming days and assess its compatibility with their investment strategies.

06.07.2024 - VNO Stock was up 11.7%

• Vornado Realty exceeded expectations for earnings per share (EPS) and revenue in the second quarter of 2024, surpassing analyst forecasts. This positive financial performance likely influenced the increase in VNO stock.
• Despite a decline in net income from the previous quarter, the market appeared more interested in the strong earnings and revenue results for Q2 2024.
• The joint venture of Vornado's retail sector engaging in a $350 million agreement with UNIQLO may have also contributed to heightened investor confidence in VNO stock, demonstrating savvy maneuvers in the premium real estate sector.
• Overall, the combination of robust financial outcomes and strategic business moves like the UNIQLO transaction likely propelled the rise in VNO stock today.

07.07.2024 - VNO Stock was down 5.0%

• Vornado Realty Trust (VNO) surpassed expectations in the second quarter, exceeding estimates for funds from operations (FFO) and revenue. However, a prevailing pessimistic market sentiment caused a decline in the stock price.
• Even though Vornado surpassed expectations in earnings per share (EPS) and revenue, its net income for the quarter decreased compared to the previous year, which may have sparked investor concerns.
• The overall decrease in total same-store net operating income (NOI) and the year-over-year revenue drop likely influenced the downward trend of VNO stock.
• Investors seem to be concentrating on the unfavorable aspects of the earnings report, such as the reduction in total same-store NOI and operating income, prompting a sell-off of Vornado Realty Trust shares despite the positive earnings outcomes.

05.07.2024 - VNO Stock was up 6.1%

• The rise in VNO stock today could be linked to investors' confidence ahead of the upcoming second-quarter earnings announcement.
• The company's decision to issue dividends on preferred shares may have also influenced positive investor sentiment, underscoring its dedication to rewarding shareholders.
• Despite the projected drop in revenues and FFO per share, the focus seems to be on Vornado Realty Trust's ability to withstand a slowing U.S. economy, as indicated in a recent report citing healthy job growth. This favorable assessment of the overall market conditions might be fueling VNO's stock performance.